iSeeCars analyzed data from 900,000 vehicle transactions last month and found the average new car took about 26 days to sell between August 1st and August 31st. The GMC Yukon was among the fastest selling nameplates, the study found, with the full-size SUV spending an average of 10.5 days on a lot before finding a buyer – making it the twelfth quickest-selling vehicle for the month. The fastest-selling product overall was the Hyundai Santa Cruz, which took an average of eight days to sell.
iSeeCars executive analyst Karl Brauer said GMC Yukon sales have been bolstered by GM’s “build shy” strategy, which has allowed the automaker to maintain adequate production volume at its Arlington Assembly plant even amid the worst of the global micorchip shortage.
“The GMC Yukon has been in high demand, and despite idling production of full-size pickups, GM maintained production of the Yukon by building it without chips and parking the incomplete models,” said Brauer. “The Yukon saw a 126 percent increase in sales during the first half of 2021 compared to last year, and continues to be a hot seller.”
Notably, the GMC Yukon was among the most expensive nameplates to be listed among the top 20 fastest-selling vehicles in August. The Yukon sold for an average of $71,192 last month, the fourth-highest average transaction price among vehicles in the top 20. The Land Rover Defender and Mercedes-Benz GLS had higher ATPs of $76,847 and $97,359, respectively, while the Cadillac Escalade led the way with an ATP of $99,798.
Brauer said most consumers have now accepted the fact the microchip shortage will not subside anytime soon and are thus still turning out to dealerships in high numbers to buy vehicles at or above MSRP.
The microchip shortage is showing no signs of slowing down as major automakers continue to halt production, leading to lower and sometimes scarce inventory levels, especially for the most in-demand vehicles,” he said. “It looks like car buyers who were initially waiting for prices to drop have embraced the reality that inventory shortages are here to stay, at least for the next several months.”